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INTRODUCTION TO CROWDSOURCING
Crowdsourcing is the practice of utilizing the
wisdom of a group for a common goal
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Crowdsourcing is also sourcing model in
which individuals or organizations obtain
goods and services, including ideas, voting,
micro-tasks and finances, from a large,
relatively open and o en rapidly-evolving
group of participants
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The word crowdsourcing itself is a
portmanteau of
crowd and outsourcing ,The term was first
coined by Jeff Howe in a 2006 article about
the practice
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In a February 1, 2008, article, Daren C
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Enrique Estellés-Arolas and Fernando
González Ladrón-de-Guevara, researchers
at the Technical University of Valencia,
developed a new integrating definition:

Crowdsourcing is a type of participative
online activity in which an individual, an
institution, a nonprofit organization, or
company proposes to a group of individuals
of varying knowledge, heterogeneity, and
number, via a flexible open call, the voluntary
undertaking of a task
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The user will receive the satisfaction of a
given type of need, be it economic, social
recognition, self-esteem, or the development
of individual skills, while the crowdsourcer
will obtain and use to their advantage that
which the user has brought to the venture,
whose form will depend on the type of
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activity undertaken

HOW DOES CROWDSOURCING WORKS?
Crowdsourcing has become an important
tool for businesses to leverage in a variety of
areas, including data collection, creating
operational efficiencies, and general
problem-solving
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Crowdsourcing involves obtaining work,
information, or opinions from a large group
of people who submit their data via the
Internet, social media, and smartphone apps
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WHAT ARE THE BENEFITS OF
CROWDSOURCING?
Crowdsourcing has a number of benefits that
businesses can leverage to their advantage
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Increases Scalability

Scaling is a difficult problem for any
business to solve, particularly when it
comes to working on massive projects with
inadequate resources at your disposal
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This flexibility is one of
the top an interest in crowdsourcing
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Crowdsourcing provides the ability to access
people who have skill sets that are
unavailable within the company
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Accelerates Processes
Crowdsourcing allows businesses to perform
tasks more quickly than a single employee
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Overall,
crowdsourcing presents a more efficient way
to do work
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When a group of people
unite digitally to complete a task, businesses
can bypass most of the costs typically
associated with operations
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Depending on the projects being completed,
faster turnaround times can also equate to
increased profits
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Most traditional
marketing media hold consumer attention
for a short span of time
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EXAMPLE OF CROWDSOURCING
Many highly visible companies have utilized
crowdsourcing in different ways, whether it's
to bolster their current product offerings,
obtain consumer data to steer future product
decisions, fund smaller creative projects, and
much more
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Crowdsourcing Data
Many companies chose to utilize
crowdsourced data to enhance their current
product offerings
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One of the most famous examples of a
company that utilizes crowdsourcing in this
way is Waze
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Users enter information
about traffic jams, road hazards, and even
police radar hotspots and then makes this
information visible to users
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Open-Source So ware
One of the most common types of
crowdsourcing comes in the form of
open-source so ware
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Ultimately,
this allows many eyes to analyze the code
and utilize their unique skill sets to make it
better
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Some
examples of open-source so ware include
the Linux operating system, Firefox browsers,
and Hashicorp development tools
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This
technique allows anyone -- from an
individual to a large company -- to engage
people who are interested in their ideas and
raise capital without pitching to large
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could withhold funding
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